Saracen Mineral Holdings Limited announced that Mr. Raleigh Finlayson has accepted appointment to the Board as Managing Director of the company. The appointment will become effective from 2 April 2013. Mr. Finlayson joined the company in February 2008 and has fulfilled the role of Chief Operating Officer for the past 3.5 years.

His appointment to the Managing Director position is in accordance with the Board's long term succession plan. Mr. Guido Staltari, who has performed the duties of both Managing Director and Chairman, will remain as Chairman of the company and will provide his part time executive services through a transitionary period. During that period he will assist the Managing Director and Board in strategic, commercial, exploration and development aspects of the company's future business.

From a corporate governance perspective, the separation of the Chairman and Managing Director's duties fits well with the structure and market standing of the company, while at the same time remaining consistent with the company's internal succession planning strategy.